LIVESTAR Entertainment Group Inc. Announces the Finalization of New Business Transaction With the Sequel Nightclub & Lounge
VANCOUVER, BC, Jun. 04, 2004 (MARKET WIRE via COMTEX) -- LIVESTAR Entertainment
Group Inc. ("LIVESTAR" or the "Company") (OTC BB: LSTA) today announced that it
has successfully finalized a new business transaction with the Sequel nightclub.
Under the new transaction LIVESTAR, through a new wholly owned subsidiary, has
executed a Business Lease Agreement (the "Lease") with the owner of Sequel,
whereby LIVESTAR was provided the right to lease the business assets and operate
its own establishment operation at the premises.
As per the terms of the Lease, LIVESTAR will be the beneficiary of all the
proceeds of operation and compensate the Sequel with a monthly lease payment.
Details of the transaction can be found in our report on Form 8-K filed today
with the Securities and Exchange Commission.
According to the Founder, President and CEO of LIVESTAR, Mr. Ray Hawkins: "The
business will still operate under the trade name of 'Sequel' and with the rights
LIVESTAR has gained through the Lease we are proud to have completed a
transaction that will put revenues on the Company's income statements. A
business lease transaction is commonplace in the industry and we feel during the
term of the lease we can generate revenues and earnings that will benefit
LIVESTAR financially. In fact, the revenues are beginning to grow due to the
change in season in Toronto."
Mr. Lall, the owner of Sequel, commented: "The commitment of myself and LIVESTAR
management to finalize a new and equitable business transaction regarding the
VANCOUVER, BC, Jun. 04, 2004 (MARKET WIRE via COMTEX) -- LIVESTAR Entertainment
Group Inc. ("LIVESTAR" or the "Company") (OTC BB: LSTA) today announced that it
has successfully finalized a new business transaction with the Sequel nightclub.
Under the new transaction LIVESTAR, through a new wholly owned subsidiary, has
executed a Business Lease Agreement (the "Lease") with the owner of Sequel,
whereby LIVESTAR was provided the right to lease the business assets and operate
its own establishment operation at the premises.
As per the terms of the Lease, LIVESTAR will be the beneficiary of all the
proceeds of operation and compensate the Sequel with a monthly lease payment.
Details of the transaction can be found in our report on Form 8-K filed today
with the Securities and Exchange Commission.
According to the Founder, President and CEO of LIVESTAR, Mr. Ray Hawkins: "The
business will still operate under the trade name of 'Sequel' and with the rights
LIVESTAR has gained through the Lease we are proud to have completed a
transaction that will put revenues on the Company's income statements. A
business lease transaction is commonplace in the industry and we feel during the
term of the lease we can generate revenues and earnings that will benefit
LIVESTAR financially. In fact, the revenues are beginning to grow due to the
change in season in Toronto."
Mr. Lall, the owner of Sequel, commented: "The commitment of myself and LIVESTAR
management to finalize a new and equitable business transaction regarding the
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